U.S. equities advanced broadly, with the Nasdaq Composite reaching an all-time high of 27,399.71, up 0.77 percent, and the S&P 500 rising 0.50 percent to 7,761.39. The Dow Jones Industrial Average declined 0.06 percent to 51,145.25.
Megacap technology stocks led the advance. Nvidia rose 1.2 percent near its record high. Meta Platforms gained 2.4 percent, Microsoft 2.1 percent, and Tesla 1.6 percent. The S&P 500 software services index increased 1.2 percent.
PTC was the top S&P 500 gainer, surging 34 percent after Schneider Electric announced an all-cash acquisition of the software firm for $22.6 billion. The deal signals renewed appetite for industrial software consolidation and values PTC at a significant premium to pre-announcement trading levels.
Ten of 11 S&P 500 sectors closed higher. Communication services and energy led, while real estate declined.
Despite equity strength, risk sentiment remained cautious. The benchmark 10-year U.S. Treasury yield held at 5.328 percent, near multi-year highs, reflecting concerns about government debt burdens and substantial Treasury issuance. Global bond markets also focused on France's fiscal challenges and political uncertainty ahead of next year's presidential election.
Fresh data released Monday showed U.S. services sector activity slowed in September, following a softer-than-expected jobs report last week. Traders now assign an 80 percent probability to the Federal Reserve maintaining current interest rates in October. Goldman Sachs analysts project that most S&P 500 companies will again exceed consensus earnings estimates this quarter, forecasting 9 percent year-on-year earnings growth for the median stock.
